USD/JPY – 30M – BUYThe combination US Dollar/Japanese Yen (USD/JPY) breaks through the bearish trendline upwards
The bullish trend up to the next resistance at 142.71300 is considered certain.
Caution: A possible reversal of the trend in the direction of the support zone at 142.19700 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Northern Doji’ candle chart pattern is found. The candles show ‘Northern Doji’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 143.27900 |
| 2nd High | 143.08300 |
| Next High | 142.71300 |
| Current Price | 142.33800 |
| Next Low | 142.19700 |
| 2nd Low | 141.89500 |
| 3rd Low | 141.61000 |
142.71300 – 143.08300 – 142.95600 – 142.19700 – 141.89500 – 141.61000
Trading Signals: FOREX – USD – USD/JPY – JPY – Northern Doji